Leeward Financial Partners LLC Takes $3.38 Million Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Leeward Financial Partners LLC has acquired a new stake in Abbott Laboratories worth approximately $3.38 million, representing 1.3% of their total holdings.
• Abbott Laboratories reported a net margin of 32.43% for the recent quarter, with quarterly earnings of $1.26 EPS and revenue of $11.14 billion, exceeding analysts' expectations.
• The company has announced a quarterly dividend of $0.59 per share, translating to an annualized yield of 1.8% and a payout ratio of 29.57%.

Leeward Financial Partners LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,465 shares of the healthcare product maker's stock, valued at approximately $3,378,000. Abbott Laboratories comprises approximately 1.3% of Leeward Financial Partners LLC's investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock worth $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Capital International Investors raised its stake in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Abbott Laboratories by 1.5% during the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock valued at $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Abbott Laboratories by 10.3% during the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock valued at $2,494,851,000 after purchasing an additional 2,060,650 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Up 1.8%

Shares of Abbott Laboratories stock traded up $2.35 during trading hours on Friday, reaching $134.41. The company's stock had a trading volume of 4,985,430 shares, compared to its average volume of 7,868,751. The company has a market capitalization of $233.93 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.50 and a beta of 0.70. The stock's fifty day simple moving average is $131.68 and its two-hundred day simple moving average is $130.85. Abbott Laboratories has a one year low of $107.11 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Morgan Stanley lifted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective on the stock. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.